Monetary Policy
Fed to wean banks off daily repos later this year
Total reserves may need to be higher than Fed initially judged as demand for repo operations remains strong
Argentina reduces key rate floor again
New governor thinks ultra-tight financial conditions failed to tackle high inflation
Carney launches review of BoE monetary policy
“Deep structural changes” have left little space for conventional tools to work, governor says
Riksbank minutes show disagreements over December rate hike
Dissenting board members cite looser international policy, weak growth and below-target inflation
Phillips curve still explains eurozone inflation movements – research
Results may become a focal point of debate in the forthcoming ECB strategy review
New York Fed launches longer-term liquidity fix
Markets desk tells overseas central banks that foreign repo pool rate will be revised
Bank of Thailand grapples with baht appreciation
Central bank has relaxed forex regulations and cut rates as baht hits six-year high
New CBSL governor targets transmission mechanism
Priorities for 2020 include tackling bottlenecks, boosting transparency and improving analytics
Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper
Changes in Fed rates likely to have minimal impact on GCC growth with current oil prices, researchers say
Lagarde awards Schnabel key policy role in renewed ECB board
Panetta leads market infrastructure and payments, banknotes and international relations
BoE paper: simple communication can backfire
Success of communication is not measured by number of people reached, paper states
Bernanke offers ideas for Fed’s policy framework review
Unconventional policies are “preferable” to raising inflation target and can still be enhanced, Bernanke argues
Patterns of exchange rate pass-through are changing – RBI paper
Pass-through in emerging markets is non-linear, asymmetric and falling, authors find
Chile’s central bank publishes historical meeting minutes
Historical minutes have been digitised in a move to improve transparency and accountability
West Africa launches new currency in break with France
France will now have less involvement in the affairs of the West African Economic and Monetary Union
Fed avoids year-end cash crunch
Repo market shows barely a ripple over New Year’s Eve after Fed injects a quarter of a trillion dollars
Monetary easing can boost birth rate, BoE paper finds
People had more children after rates were slashed post-crisis, researchers find
Markets surge as PBoC cuts RRR
Cut designed to support the flagging economy; PBoC insists it is retaining “sound” policy
Argentina lowers key rate floor
New governor aims to abandon ultra-tight financial conditions
Manufacturing leverage weakens ECB monetary policy – BoI paper
Eurozone industrial firms’ response to policy shocks decreases as leverage rises, researchers find
Bank of Mexico cuts again as growth remains sluggish
Board says economic weakness is likely to persist